Reasonable Operating Expenses means the reasonable expenses and payments that arise from the purchase of goods or services which are exclusively used for the operation, maintenance, and routine repair of the Project (including all payments and deposits required under this Agreement, the Note, or the Security Instrument), or as otherwise permitted by Program Obligations.

Examples of Reasonable Operating Expenses in a sentence

Notwithstanding the foregoing, for purposes of this calculation, Reasonable Operating Expenses shall not include the following: principal and interest payments on any debt subordinate to the HOME Note, depreciation, amortization, depletion or other non-cash expenses, incentive partnership asset management fees payable to the Maker or its affiliate (other than the management fees described above), or any amount expended from a reserve account.
In no event shall expenditures, including attorneys’ fees or litigation costs, normally required to be paid out of the Replacement Reserve, be treated as Reasonable Operating Expenses unless specifically approved in writing by the City.
In the event that any of the above costs is incurred partially with respect to the Property, the parties shall mutually agree upon an allocable portion of such costs which shall be deemed Reasonable Operating Expenses of the Property.

More Definitions of Reasonable Operating Expenses

Reasonable Operating Expenses means expenses that arise from the operation, maintenance and routine repair of the Project and that primarily benefit the Project as opposed to the Borrower’s Principals or Affiliates, or as otherwise permitted by Program Obligations.

Reasonable Operating Expenses means expenses that arise from the operation, maintenance and routine repair of the Project and that primarily benefit the Project as opposed to Borrower or as permitted in Program Obligations.

Reasonable Operating Expenses means expenses that arise from the operation, maintenance 147 and routine repair of the Project, including all payments and deposits required under this 148 Agreement and any of the Loan Documents, and that comply with the requirements of 24 C.F.R. 149 232.1007, or successor regulation. 150 151 “Residential Agreement” means a lease, admission agreement or other resident agreement 152 between Operator and a resident setting forth the terms of the resident’s living arrangements and 153 the provision of any related services. 154

Reasonable Operating Expenses means expenses that arise from the operation, maintenance

Reasonable Operating Expenses means expenses that arise from the operation, maintenance and routine repair of the Project, including all payments and deposits required under this Agreement, any Loan Document, and that primarily benefit the Project as opposed to Borrower’s Principals or Affiliates, or as otherwise permitted by Program Obligations. Salaries or other compensation to Affiliates of the Borrower or entities with an Identity of Interest with the Borrower, except to the extent approved by HUD, including without limitation through Program Obligations, shall not be considered Reasonable Operating Expenses and shall be deemed Distributions.

Reasonable Operating Expenses means expenses that arise from the operation, maintenance and routine repair of the Project, including all payments and deposits required under this Security Instrument and any Loan Document, and comply with the requirements of 24 C.F.R. 232.1007, or successor regulation. Previous versions obsolete Page 12 form HUD-94000-ORCF (06/2014)